So what now we have Art Degree MMT Economics people teaching rudimentary Finance and Accounting Science 101 like this is some big revelation or something?  Big deal … ? assets___________BANK________liabilities + reserves + bank deposits What happened? ? — Dirk Ehnts (@DEhnts) April 15, 2024 ..read more

  But these JPM people are not winning the Art Degree argument though: JUST IN: ?? JPMorgan says high interest rates are driving inflation higher - Bloomberg pic.twitter.com/ui89mAh6RG — Radar? (@RadarHits) April 10, 2024 This guy is winning the argument: .@lhsummers, former US Treasury Secretary and Wall Street Week contributor, says he's not surprised inflation rose again in March, but he says an interest rate cut in June by the Federal Reserve would be dangerous https://t.co/VVbO71W83N pic.twitter.com/enjnKsEm5Z — Bloomberg TV (@BloombergTV) April 10, 2024 ..read more

It’s Wednesday and we have discussion on a few topics today. The first relates to the new agreement between the European Parliament and the European Council that was announced on February 10, 2024, which purports to reform the fiscal rules structure that has crippled the Member States of the EMU since inception. The reality is that the changes are minimal and actually will make matters worse. I keep reading progressives who claim the EU fiscal rules are no longer operative. Well, sorry, they are and the temporary respite during the pandemic is now over and the new agreement makes that very cle ..read more

Today, I am fully engaged in work commitments and so we have a guest blogger in the guise of Professor Scott Baum from Griffith University, who has been one of my regular research colleagues over a long period of time. He indicated that he would like to contribute occasionally and that provides some diversity of voice although the focus remains on advancing our understanding of Modern Monetary Theory (MMT) and its applications. Today he is going to talk about what responsible government spending should look like. Anyway, over to Scott … William Mitchell — Modern Monetary Theory What is respons ..read more

Podcast and transcript. Money on the Left — MR Online Economic Democracy with Pavlina Tcherneva Scott Ferguson and William Saas  interview Pavlina Tcherneva ..read more

 "Finding the Money" Trailer. Deadline Giant Pictures & Kanopy Acquire ‘Finding The Money,’ Documentary That Explodes Myth Of Deficit Spending Matthew Carey ..read more

I’m on my way back to Nairobi. I spent the last 3 days in Rome at a UN expert group meeting on SDG2 (Ending Hunger) at the FAO, in preparation for the 2024 High-Level Political Forum that will be help in July 2024. It was a bit ironic that the FAO building where we held the meeting used to be the Italian Ministry of the Colonies under the Mussolini regime, and my main message to the FAO was about decolonizing the global economic architecture is a prerequisite for achieving the SDGs, including SDG2 to end hunger. It is 2024, and the global food system reflects the legacy of colonial and post-co ..read more

For years, those who want selective access to government spending benefits (like the military-industrial complex and other parasitic sectors), while claiming the government cannot afford to provide adequate income support to the most disadvantaged citizens have used various ruses to give an air of authority or legitimacy to their claims. So in the UK, the lie in 1976 by the then Labour government that it was going to have to borrow from the IMF to stay solvent has been regularly wheeled out. In Europe, it was the ‘tournant de la rigueur’ (austerity turn) introduced by the French government of ..read more

 The sequel. The National (Scotland) Mark Blyth: Unionists 'taking my words on independence out of context' Xander Elliards ..read more

 Philip Pilkington turns the page on MMT? https://twitter.com/philippilk/status/1772538175564447823 The US, like the UK, can’t go broke in their own currency. But if foreign lenders don’t buy into net bond issuance, USD will have to adjust to shrink the trade deficit. This will put upward pressure on inflation and is what the UK faced under Truss. Will Trump get Trussed?… pic.twitter.com/fDuYrC3Gzx — Philip Pilkington (@philippilk) March 26, 2024 ..read more